Answer the questions Essay Example | Topics and Well Written Essays - 1500 words

Answer the questions - Essay Example The paper takes into account the quality of voluntary narrative disclosure, evaluates the overall presentation of the report and the impact of reporting corporate responsibility matters on the information received by users regarding corporate performance of Imperial Tobacco. Finally, an evaluation of the IIRC agenda upon the quality of financial information coupled with the role of the accountant in safeguarding this agenda is undertaken. Viewing from the development of information disclosure system, voluntary disclosure appears after compulsory information disclosure (Tian & Chen, 2009). Specifically, the paper addresses the use of voluntary reporting on the Annual General Meeting notice. Quality of Voluntary Narrative Disclosure at Imperial Tobacco: Imperial Tobacco has made bold steps in ensuring that it integrates corporate responsibility into its ordinary financial operations. The firm understands that it has social and economic roles to play in order to safeguard positive gains already made by other players in society. The issues that ITG generally endeavors to engage in at various levels, according to the 2012 financial reports include: 1) Tackling child labour, The company understands the temptation that comes with the expectation for higher returns and it has undertaken to fight the vice of child labour at all levels of production. As a result, we joined the movement â€Å"Eliminating Child Labour in Tobacco Foundation† where ITG is a board member. 2) Consumer support: Various municipalities have lately come up with extremely exaggerated laws in the company’s view not only undermine free trade in tobacco products, but also limit the rights of the consumer to the extent they are prevented from freely enjoying their freedom at using tobacco products. 3) Response to environmental challenges: Among the most common environmental challenges associated with tobacco use is emission of carbon dioxide. The company has lately adopted latest technolo gy in cigarette manufacturing and as a result the products have seen a 4% reduction in carbon dioxide emission, as research into how to reduce this rate further continues. Furthermore, the company has reduced energy consumption by 5%. 4) Fighting illicit trade: The sale of counterfeit products bearing the company’s name is seen as a major blow to the trust bestowed upon the company by consumers of its products, and therefore the company has made bold steps in ensuring that this vice dies completely. The company has employed personnel in various major shipping centers to track any suspicious trade in ITG’s products while working closely with local authorities. 5) Job creation: Being a multi-national, ITG Plc has directly and indirectly employed thousands of persons who are instrumental in the company’s daily operations while scooping their living out of the mutual relationship thus established. 6) Issuance of dividends Each financial year, the company establishes a certain amount of returns per share owned by shareholders and disperse the same to the esteemed shareholders who gladly get returns for their trust in the company and their choice to invest in Imperial Tobacco. The 2012 annual report surpassed all other reports given earlier, especially due to the attempt to indicate corresponding figures alongside the activities. The ratios relating to various aspects of the report are easy to work out, since all the required figures are